Jubilant Pharmova dips ~8% as sequential loss widens to Rs 98 crore

30 May 2023 , 03:37 PM

Shares of Jubilant Pharmova slipped nearly 8% so far in today’s trade as the company announced its results for the quarter ending March 2023. The company’s loss during the quarter under review widened to Rs 98 crore on a QoQ basis.

The company reported a loss of Rs 15.67 crore in Q4FY23, as compared to a profit of Rs 59.55 crore in the previous corresponding quarter.

Company stated in its filing with the exchanges that profitability was impacted due to a drastic surge in its expenses during the January-March quarter. Its expenses during the said quarter stood at Rs 1,785.57 crore as compared to Rs 1,420.24 crore in the previous comparable quarter.

Further, the company’s revenue from operations stood at Rs 1,678 crore in Q4FY23, against Rs 1,552.51 crore in the previous corresponding quarter, up by 8.09% y-o-y.

Company reported an EBITDA of Rs 202 crore in Q4FY23, as against Rs 234 crore in Q4FY22, registering a decline of 13.70% y-o-y. EBITDA margin for the quarter under review came in at 12.20%.

The board of directors of the company announced a dividend of Rs 5 per share.

Following this development, Jubilant Pharmova’s counter settled at Rs 332.50, down by 7.25% in Tuesday’s session.

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